https://www.taxtmi.com/caselaws?id=200807 The case involved a dispute over the allowance of carrying forward unabsorbed depreciation beyond 8 years under the Income Tax Act. The CIT(A) permitted the carry forward based on judicial precedents, emphasizing that legislative intent supported unlimited carry forward for specific assessment years. The High Court upheld the CIT(A)'s decision, citing relevant Finance Acts and judicial interpretations. The Tribunal affirmed the decision, relying on established precedents and legislative intent, ultimately dismissing the Revenue's appeal. The case clarified the interpretation of Section 32(2)(iii)(b) and highlighted the significance of judicial precedents in determining the outcome. en-us Wed, 03 May 2017 00:00:00 +0530 Wed, 25 Apr 2018 05:59:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200807 The case involved a dispute over the allowance of carrying forward unabsorbed depreciation beyond 8 years under the Income Tax Act. The CIT(A) permitted the carry forward based on judicial precedents, emphasizing that legislative intent supported unlimited carry forward for specific assessment years. The High Court upheld the CIT(A)'s decision, citing relevant Finance Acts and judicial interpretations. The Tribunal affirmed the decision, relying on established precedents and legislative intent, ultimately dismissing the Revenue's appeal. The case clarified the interpretation of Section 32(2)(iii)(b) and highlighted the significance of judicial precedents in determining the outcome. Case-Laws Income Tax Wed, 03 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200807